NSFAS Mastercard Online Application For 2024 | Apply Now

NSFAS Mastercard Online Application For 2024 | Apply Now. As part of NSFAS’s digital transformation, beneficiaries at universities and TVET colleges will receive their allowances through the NSFAS Mastercard starting the 2024 academic year. South African students approved for NSFAS funding can conveniently access financial assistance by applying for an NSFAS Mastercard. Check Also: NSFAS Online Application 

What is NSFAS Mastercard?

NSFAS, the National Student Financial Aid Scheme, offers financial aid to qualifying students, and the NSFAS Mastercard facilitates secure and convenient transactions. Mastercard, a multinational financial services corporation, provides payment solutions globally.

How to Apply for NSFAS Mastercard

Follow these steps for a hassle-free application process:

1. Download App: Obtain the Tenetech Student App for managing your NSFAS Mastercard.
2. Register Number: Use your assigned student number to register on the app.
3. Complete Details: Fill in accurate personal information on the application.
4. Upload SA ID Photo: Verify your identity by uploading a clear SA ID photo securely.
5. Selfie Verification: Take a selfie holding your SA ID for added security.
6. Bank Account Assignment: Receive a bank account number linked to your NSFAS Mastercard.
7. Card Delivery: Your NSFAS Mastercard will be delivered to your college or university campus.

Activating NSFAS Mastercard

Activating your NSFAS Mastercard is straightforward:

1. Send SMS: Compose a message with “Activate,” space, and the last four digits of your card. Send it to 31571.
2. Receive PIN via SMS: Shortly after, receive your PIN via SMS. Memorize it for security.
3. First Bursary Payment: Your card will activate upon receiving your first NSFAS bursary payment.
4. PIN Change: Consider changing your PIN for added security. Refer to the NSFAS website for instructions.

NSFAS Mastercard Service Providers

NSFAS collaborates with esteemed financial technology service providers:

1. Tenet Technologies: Offers innovative banking solutions and contactless payments.
2. Coinvest: Provides secure financial transactions through cutting-edge technology.
3. Norraco: Enhances the NSFAS Mastercard payment solution with financial technology services.
4. Ezaga: Ensures enhanced accessibility to allowances and value-added services.

Collecting Your NSFAS Mastercard

Upon completing the bank account onboarding process, you’ll receive both physical and virtual NSFAS Mastercards. Physical cards can be collected at your institution.

Checking NSFAS Mastercard Funds

After activation, monitor your funds:

• SMS Notifications: Receive SMS notifications for transactions and alerts.
• Email Notifications: Get notifications via email and other designated platforms.
• Anti-Fraud Feature: Benefit from an anti-fraud feature for added security.

Benefits of NSFAS Mastercards to Students

• Cash Withdrawals: Withdraw cash from ATMs and selected retail stores.
• Electronic Transfers: Make electronic transfers like regular bank accounts.
• Online Transactions: Conduct online transactions and purchases.
• Secure: Personalized identification number ensures security.
• Mobile App EFT Transactions: Download the partner’s mobile app for EFT transactions.
• Complete Visibility: View transactions and balances through approved platforms.
• Transaction Notifications: Receive SMS notifications for each transaction.

Registration Reminder for 2023 Academic Year

University students with approved NSFAS funding for the 2023 academic year are urged to register for an NSFAS bank account promptly. SMS and emails were sent to students, and registration is crucial to avoid delays in receiving allowances. Click on the provided link to register and ensure a smooth academic journey.

Conclusion 

The NSFAS Mastercard initiative marks a pivotal step in enhancing financial accessibility for South African students. With streamlined applications, secure transactions, and valuable benefits, it stands as a beacon for a more inclusive and convenient academic journey.